Hendley & Co. Inc. Decreases Stake in AutoZone, Inc. (NYSE:AZO)

Hendley & Co. Inc. reduced its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 12.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,165 shares of the company's stock after selling 167 shares during the period. AutoZone makes up approximately 1.6% of Hendley & Co. Inc.'s investment portfolio, making the stock its 23rd biggest holding. Hendley & Co. Inc.'s holdings in AutoZone were worth $4,442,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AZO. Headlands Technologies LLC acquired a new stake in AutoZone during the 4th quarter valued at approximately $29,000. Flagship Wealth Advisors LLC acquired a new position in AutoZone in the 4th quarter worth about $32,000. Harbour Investments Inc. lifted its position in shares of AutoZone by 42.9% during the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company's stock valued at $32,000 after buying an additional 3 shares in the last quarter. Tradewinds Capital Management LLC grew its position in shares of AutoZone by 30.0% in the first quarter. Tradewinds Capital Management LLC now owns 13 shares of the company's stock valued at $50,000 after purchasing an additional 3 shares during the period. Finally, Minot DeBlois Advisors LLC purchased a new stake in AutoZone during the 4th quarter worth approximately $45,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other AutoZone news, CFO Jamere Jackson sold 2,612 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $3,728.05, for a total transaction of $9,737,666.60. Following the sale, the chief financial officer directly owned 427 shares of the company's stock, valued at $1,591,877.35. This trade represents a 85.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman William C. Rhodes III sold 27,500 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $3,708.93, for a total transaction of $101,995,575.00. Following the transaction, the chairman directly owned 8,546 shares in the company, valued at $31,696,515.78. The trade was a 76.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,662 shares of company stock worth $131,999,089. Company insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

AZO has been the topic of several analyst reports. Bank of America upgraded AutoZone from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $3,900.00 to $4,800.00 in a report on Wednesday, May 21st. Truist Financial set a $3,995.00 price target on AutoZone in a report on Friday, May 23rd. Guggenheim increased their price target on AutoZone from $3,850.00 to $4,100.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Mizuho boosted their price objective on AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, The Goldman Sachs Group set a $3,811.00 price target on shares of AutoZone in a report on Friday, May 23rd. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $4,087.00.

AutoZone Trading Up 0.5%

Shares of AZO stock traded up $19.22 during trading hours on Monday, hitting $3,788.48. The company's stock had a trading volume of 115,769 shares, compared to its average volume of 130,327. AutoZone, Inc. has a twelve month low of $2,802.79 and a twelve month high of $3,916.81. The stock has a market cap of $63.57 billion, a price-to-earnings ratio of 25.64, a P/E/G ratio of 2.25 and a beta of 0.39. The business has a fifty day moving average of $3,701.69 and a 200-day moving average of $3,548.45.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). The company had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.41 billion. AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The business's revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $36.69 earnings per share. On average, equities analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.